BIR Ruling

November 18, 1976 JPM Foundation, Inc. 123 Pioneer Street Mandaluyong, Rizal Attention: Miss Annabelle P . Brown President Gentlemen : In connection with your request for exemption from the payment of income tax and the filing of the corresponding income tax return under Section 27(e) of the Tax Code, I have the honor to request that, as required by Revenue Regulations No. 2 you furnish this Office the following: cdta 1. Affidavit showing the character of the Corporation, the purpose for which it was organized, its actual activities, the sources of its income is credited to surplus or inures or may inure to the benefit of any private stockholder or individual and in general, all facts relating to its operation which affect its right to qualification; 2. Latest Financial Statements showing the assets, liabilities, receipts and disbursements of the Foundation. Unless the aforementioned requirements are complied with, no definite ruling can be issued by this Office on your aforesaid request. Furthermore, information is also requested whether the National Science Development Board (NSDB) has certified that the Foundation and its funds are dedicated to scientific pursuits in accordance with Republic Act No. 2067, as amended by Republic Act No. 3589. In the affirmative case, it is requested that a copy of the NSDB certificate be also furnished this Office. aisa dc Very truly yours, CONRADO P. DIAZ Deputy Commissioner of Internal Revenue TAN-1182-568-4